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2017-01-12 18:12:31

HMST

HomeStreet

$30.95

-0.55 (-1.75%)

18:12

01/12/17

01/12

18:12

01/12/17

18:12

HomeStreet says enters agreement in principle to resolve SEC probe

"On January 6, we entered into an agreement in principle with the staff of the SEC related to a previously disclosed SEC investigation into HomeStreet's fair value hedge accounting for certain commercial real estate loans and swaps. The settlement relates to allegations that the company did not maintain certain records and accounts in a manner that provided reasonable detail and accurately and fairly reflected the company's transactions and dispositions, did not have sufficient internal controls related to such record-keeping, and engaged in certain practices which allegedly could have had the effect of discouraging certain individuals from communicating with the SEC regarding any potential securities violations... The settlement will require the company to pay a fine of $500,000, which we recorded in Q4 and was not deductible for income tax purposes. The SEC does not allege that these violations had a material impact on HomeStreet's financial statements for any period," said HomeStreet.

HMSTHomeStreet

$30.95

-0.55 (-1.75%)

03/03/16

DADA

03/03/16NO CHANGEDADA

HomeStreet provides good opportunity, says DA Davidson

After meeting with HomeStreet's management, DA Davidson says that the bank is benefiting from "strong loan demand and stable/improving credit quality." The firm says that the bank has multiple growth opportunities, while its momentum is building. DA Davidson thinks that the stock is, "a deep value, limited downside risk play." It keeps a Buy rating on the shares.

HomeStreet downgraded to Market Perform from Outperform at FBR Capital

FBR Capital analyst Paul Miller downgraded HomeStreet to Market Perform saying the current valuation fairly reflects the strength of the U.S. mortgage market and the company's diversification efforts. The analyst raised his price target for the shares to $33 from $32.